India’s induction furnace (IF) steel market saw moderate response from buyers today even as offers floated by the mills decreased up to INR 400/tonne (t) d-o-d.
Sponge iron offers fell sharply by INR 50-250/t. The highest decline of INR 250/t was seen in southern region’s Bellary sponge market.
Billet prices dropped in the range of INR 100-400/t across regions, with the maximum fall of INR 400/t seen in Delhi market.
Rebar (Fe 500) offers fell by INR 100-300/t across regions and the sharpest drop of INR 300/t was seen in Delhi and Chennai.
The market witnessed volatility in semi-finished and finished long steel prices amidst moderate buying except in the eastern region where demand for semi-finished steel remained firm and sufficient trade was reported by suppliers.
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SteelMint’s price assessment (Region wise)
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